fbpx
Pocket Accounts
Call Free Now: 0800 848 8111
  • Home
  • Are You A?
  • Services
    • Packages Prime
    • Packages Pro
    • Packages Premium
    • Packages Platinum
  • Blog
  • Resources
  • Contact
  • Home
  • Are You A?
  • Services
    • Packages Prime
    • Packages Pro
    • Packages Premium
    • Packages Platinum
  • Blog
  • Resources
  • Contact

Archives

Tag Archives for: "technology"
 Finance chiefs prioritise technical competence
0
0
By Michael
In Business
Posted August 24, 2016

Finance chiefs prioritise technical competence

Finance chiefs believe technical competence is the top quality required by the finance professionals of tomorrow, according to a new survey. The Institute of Chartered Accountants in England and [...]

READ MORE
 EU audit reform rules come into force
0
0
By Michael
In Uncategorized
Posted June 22, 2016

EU audit reform rules come into force

New EU audit rules, aimed at promoting high-quality audits in larger businesses throughout the EU and enhancing investor trust in the financial information of companies, came into force last [...]

READ MORE
 Using technology to cut through accounting admin and red tape
0
0
By Michael
In Business
Posted June 1, 2016

Using technology to cut through accounting admin and red tape

More than half of smaller businesses in the UK believe their growth is being held back by administrative tasks and the burden of red tape, according to a new survey. The Federation of Small [...]

READ MORE
 Working Remotely
0
0
By Michael
In Uncategorized
Posted November 23, 2015

Working Remotely

Working from home has long been a popular concept in principle, particularly with employees, but does not always work well in practice. Some of the biggest challenges have historically been from [...]

READ MORE
 Banking on Technology
0
0
By Michael
In Business
Posted November 12, 2015

Banking on Technology

So much of how we lead our lives today has been directed somehow by the remarkable evolution of consumer technology. Not so long ago, computers seemed to be of interest primarily to gamers or [...]

READ MORE
 Going Automatic
0
0
By Michael
In Business
Posted November 11, 2015

Going Automatic

Automation is a word that crops up regularly in conversations today about the future of accountancy and indeed most other professions. As our relationship with technology becomes more complex and [...]

READ MORE
 Bold new ideas in accountancy
0
0
By Michael
In Business
Posted November 9, 2015

Bold new ideas in accountancy

The world of accountancy is changing, and not just in a series of minor, incremental ways. Anyone who has any kind of interface with accountants (and let’s face it: that includes pretty much [...]

READ MORE
Categories
  • Business
  • Uncategorized
Tags
accountancy admin Automation Big Data bookkeeping Boost business business compliance cloud accountancy Cloud Accounting cloud accounting software contractors Finance Freelancers Freelancing HMRC income tax insurance IR35 KPMG Marketing mobile payments National Insurance New businesses new ideas PAYE Payment pensions Personal Service Companies Revolution self-employed smartphones SMEs Sole trader sole traders Tax tax and National Insurance tax bomb tax relief technology The Budget The fallout trading VAT your business
Call Free Now: 0800 848 8111
Logo Footer

Achieve a better work life balance with Pocket Accounts

We do all the hard work for you unlimited access to your dedicated Pocket Accounts accountant responsible for all your book keeping and accounting payroll and tax needs. With 24/7 access to your books through our online software all for one small monthly fixed fee.

  • Refer a Client
  • Terms & Conditions
  • Privacy Policy
  • logo freeagent
  • Logo Xero
Copyright PocketAccounts.co.uk. All Rights Reserved © 2016.
  • Weekly Travel & Expense Claims Call Back Request
  • Please note our opening hours on a Saturday are 10am-2pm

Assumptions

  • Based on a contractor working 37.5 hours per week.
  • Full employee personal tax allowance of £11,000 per year (tax code 1100L).
  • Contractor has no additional income during the tax year.
  • Subsistence based on the HMRC’s benchmark scale rates model.
  • Annual business mileage calculated at 45p/mile for the first 10,000 miles and at 25p/mile thereafter.
  • Expenses calculated between £3.16 and £355 and is restricted by allowable expenses and expenses reasonably incurred by an employee working and staying away from home.
  • Weekly calculation based on 52 weeks per full tax year.
  • Monthly calculation based on 12 months per full tax year.
  • All Tax, NIC’s and employers NIC’s based on 16/17 tax year.

Additional assumptions for Crystal calculation

  • SDC (Supervision, Direction or Control) does not apply during any contract assignment throughout the tax year.
  • All legitimate business expenses incurred during each assignment will be paid as part of your regular Crystal payment package. Any incurred expenses over the pre-agreed amount can be received as a tax refund from HMRC after the tax year-end on 5th April.
  • All Crystal payments include holiday pay.
  • All Crystal payments do not include pension contributions.

Additional assumptions for Pocked Accounts calculation

  • All assignments fall outside the scope of IR35.
  • Director’s wage of £8,060 per year.
  • Pocket Accounts Premium package is used for the purpose of this calculation.
  • Only one owner and director is involved in the company.

Please note, you may be eligible for the HMRC’s flat rate VAT scheme. Our consultants would be happy to discuss this with you.